OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA ADDIS ABABA - 17h December , 2002 CONTENTS Proclamation No. 306/2002 Transfer of Doubtful Bank Debt to the Government ( Amendment ) Proclamation Page 1977 PROCLAMATION No. 306/2002 A PROCLAMATION TO AMEND THE PROCLAMATION TO PROVIDE FOR TRANSFER OF DOUBTFUL BANK DEBT TO THE GOVERNMENT WHEREAS , it has become necessary to amend the Proclamation to provide for Transfer of Doubtful Bank Debt to the Government ; NOW , THEREFORE , in accordance with Article 55 ( 1 ) of the Constitution of the Federal Democratic Republic of Ethiopia , it is hereby proclaimed as follows : 1. Short Title This Proclamation may be cited as the “ Transfer of Doubtful Bank Debt to the Government ( Amendment ) Proclamation No. 306/2002 . ” The Proclamation to Provide for Transfer of Doubtful Bank Debt to the Government Proclamation No. 75/1993 is hereby amended as follows : 1 ) Sub Article ( 1 ) of Article 2 is deleted and replaced by the following new Sub Article ( 1 ) : “ 1 ) “ Bank Debts ” shall mean any principal of and interest on bank loan , not collected by banks due to expiry of the period of repayment , or insolvency of the borrower , or for any other reason and , transferred to the Government under Article 3 of this Proclamation and in cludes any bank related debt transferred to public bodies by law or Agreement . " Unit Price 2:30 The African Law Archive 2 ) Sub Article ( 1 ) of Article 3 is deleted and replaced by the following new Sub - Article ( 1 ) : “ 1 ) The Minister of Finance and Economic Development is hereby empowered to tran fer to the Government Bank Debts submitted to it by the National Bank of Ethiopia and other Bank debts owed by public bodies . " 3. Effective Date This Proclamation shall come into force as of the 17th day of December , 2002 . Done at Addis Ababa , this 174 day of December , 2002 . PRESIDENT OF THE FEDERAL DEMOCRATIC REPUBLIC OF ETHIOPIA African LawArchive.com The African Law Archive